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CARLSBAD, Calif. - Carlsmed, Inc., a medical technology company focused on AI-enabled personalized spine surgery solutions, announced Tuesday the launch of its initial public offering of 6,700,000 shares of common stock. The company, with a current market capitalization of approximately $398 million, has demonstrated strong liquidity management according to InvestingPro data.
The company expects to price the shares between $14.00 and $16.00 each. Underwriters will have a 30-day option to purchase up to an additional 1,005,000 shares at the initial offering price, less underwriting discounts and commissions. With a current ratio of 6.48, InvestingPro analysis shows the company’s liquid assets significantly exceed its short-term obligations.
Carlsmed has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "CARL."
BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler are serving as joint lead book-running managers for the offering, while Truist Securities and BTIG are acting as joint book-runners.
The commercial-stage company describes itself as focused on pioneering AI-enabled personalized spine surgery solutions with the aim of improving outcomes and decreasing healthcare costs for spine surgery. Financial data reveals annual revenue of $32.27 million with an impressive gross profit margin of 74.44%, though the company reported an EBITDA of -$24.37 million in the last twelve months. Get deeper insights and additional financial metrics with an InvestingPro subscription.
According to the press release statement, the offering will be made only through a prospectus, and a registration statement on Form S-1 has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.
The securities cannot be sold, nor can offers to buy be accepted, until the registration statement becomes effective.
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